Financial Services Payment Trends: 2022 vs 2023
Financial Services Payment Performance: Marginal Improvement from 82.5 to 83.7 in 2023
The Comparison
- 2022: 465 financial services companies were analyzed. The average payment performance score was 82.5 out of 100.
- 2023: The sample size increased to 500 financial services companies. The average payment performance score improved to 83.7 out of 100.
What This Means
While the number of companies surveyed increased significantly, the overall improvement in payment performance within the financial services sector was marginal, representing a gain of just 1.2 points. This small increment suggests existing payment processes are largely stable, with limited significant advancements or setbacks. To calculate the financial impact of late payments on your business, use a late payment calculator.
One-line summary: The financial services sector saw a slight improvement in payment performance from an average score of 82.5 (out of 100) in 2022 to 83.7 in 2023.
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